Wells Fargo, the owner of Wells Fargo Advantage Funds brand, is one of the four largest banks in the United States with a legacy spanning 150 years in the financial services sector. Wells Fargo had over $503 billion in assets as of Sep 30, 2019, which includes $91.5 billion from Galliard Capital Management. Wells Fargo Advantage Funds diversifies its assets across a wide range of mutual fund categories. These include both domestic and foreign funds, asset allocation funds and fixed-income funds.
In 2010, the boards of trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create a new fund line-up, under the brand name Wells Fargo Advantage Funds. The Wells Fargo fund family claims that “each fund is guided by a premier investment team chosen for its focused attention to a particular investment style. There’s a fund to meet the investment goals and risk tolerance of almost any investment portfolio.”
Below we share with you three top-ranked Wells Fargo Advantage Funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Funds.
Wells Fargo CoreBuilder Shares Series M (WFCMX – Free Report) seeks maximization of returns through growth of income and capital. WFCMX invests more than 60% of its assets in municipal securities, which offer federal income tax exempted interest. Wells Fargo CoreBuilder Shares Series M has returned 7.7% on a year-to-date basis.
As of September 2019, WFCMX held 391 issues with 1.81% of its assets invested in IOWA FIN AUTH MIDWESTERN DISASTER AREA ECONOMIC DEV REV 1.97%.
Wells Fargo Discovery Fund – Class R6 (WFDRX – Free Report) seeks long-term capital appreciation. The fund invests the majority of its assets in equity securities of small- and medium-capitalization companies. The fund may also invest a quarter of its total assets in equity securities of foreign issuers through American Depository Receipts and other such investments. WFDRX has returned 29.7% on a year-to-date basis.
Michael T. Smith has been one of the fund managers of WFDRX since 2011.
Wells Fargo Special Mid Cap Value Fund – Class R6 (WFPRX – Free Report) aims for capital growth. The fund invests the majority of its assets in equity securities of medium capitalization companies. These companies usually have market capitalizations similar to those on the Russell Midcap Index at the time of purchase. WFPRX has returned 27.5% on a year-to-date basis.
WFPRX has an expense ratio of 0.73% compared with the category average of 1.10%.
To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of funds.
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